The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.
The voyage of the best ship is a zigzag line of a hundred tacks. See the line from a sufficient distance and it straightens itself to the average tendency.
If we teach only the findings and products of science - no matter how useful and even inspiring they may be - without communicating its critical method, how can the average person possibly distinguish science from pseudoscience?
Investors... can't pick stocks that are better than average. Stocks are a good thing to own over time. There's only two things you can do wrong: You can buy the wrong ones, and you can buy or sell them at the wrong time. And the truth is you never need to sell them.
I am not more gifted than anybody else. I am just more curious than the average person and I will not give up a problem until I have found the proper solution.
The problem is that because the voucher wouldn't necessarily keep up with health care inflation, it was estimated that this would cost the average senior about $6,000 a year.
Perhaps the efforts of the true poets, founders, religions, literatures, all ages, have been, and ever will be, our time and times to come, essentially the same - to bring people back from their present strayings and sickly abstractions, to the costless, average, divine, original concrete.
To become the founder of a new religion one must be psychologically infallible in one's knowledge of a certain average type of souls who have not yet recognized that they belong together.
Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are. [...] I'll bet a million dollars against any member of the Forbes 400 who challenges - me that the average for the Forbes 400 will be less than the average of their receptionists.
An inventor's endeavor is essentially lifesaving. Whether he harnesses forces, improves devices, or provides new comforts and conveniences, he is adding to the safety of our existence. He is also better qualified than the average individual to protect himself in peril, for he is observant and resourceful.
At age nine, I got a paper route. Sixty-six papers had to be delivered to sixty-six families every day. I also had to collect thirty cents a week from each customer. I owed the paper twenty cents per customer per week, and got to keep the rest. When I didn't collect, the balance came out of my profit. My average income was six dollars a week.